PIMCO Municipal Income Fund (NYSE:PMF) Sees Large Drop in Short Interest

PIMCO Municipal Income Fund (NYSE:PMF) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 60,900 shares, a decline of 18.8% from the December 15th total of 75,000 shares. Based on an average daily volume of 92,400 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of PIMCO Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in shares of PIMCO Municipal Income Fund by 0.6% in the second quarter. Truist Financial Corp now owns 605,110 shares of the financial services provider’s stock worth $5,549,000 after purchasing an additional 3,601 shares during the last quarter. Selway Asset Management increased its holdings in PIMCO Municipal Income Fund by 1.4% in the 3rd quarter. Selway Asset Management now owns 353,900 shares of the financial services provider’s stock worth $3,652,000 after buying an additional 5,000 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in PIMCO Municipal Income Fund by 1,317.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock worth $2,603,000 after buying an additional 269,453 shares during the last quarter. Captrust Financial Advisors lifted its stake in PIMCO Municipal Income Fund by 8.4% during the 3rd quarter. Captrust Financial Advisors now owns 233,128 shares of the financial services provider’s stock valued at $2,406,000 after acquiring an additional 18,055 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in shares of PIMCO Municipal Income Fund by 12.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 151,617 shares of the financial services provider’s stock valued at $1,565,000 after acquiring an additional 16,746 shares during the last quarter.

PIMCO Municipal Income Fund Trading Up 0.1 %

Shares of NYSE PMF traded up $0.01 during midday trading on Friday, reaching $8.82. The company had a trading volume of 75,439 shares, compared to its average volume of 86,158. PIMCO Municipal Income Fund has a 1 year low of $8.58 and a 1 year high of $10.50. The business’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $9.51.

PIMCO Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be paid a $0.042 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.50 dividend on an annualized basis and a yield of 5.72%.

About PIMCO Municipal Income Fund

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.